Shares in the chipmaker nearly doubled as they began trading on the Nasdaq Wednesday in a sign that investor demand for AI-related listings is higher than anticipated. Update Thursday, 2 p.m. ET

Elon Musk's trillion-dollar-plus SpaceX isn't a public company yet, but its size and ambitions are already upending the stock market and sparking questions over the power and influence wielded by such behemoths.

US pension funds controlling more than $1tn (£740bn) of investments have raised concerns about the “extreme” levels of control Elon Musk will exert on SpaceX after the rocket business goes public.